Mutual of America Capital Management LLC Buys 10,883 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mutual of America Capital Management LLC grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,930 shares of the financial services provider’s stock after acquiring an additional 10,883 shares during the period. Mutual of America Capital Management LLC’s holdings in Fifth Third Bancorp were worth $6,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Trust Co. NA grew its stake in Fifth Third Bancorp by 18.3% in the 4th quarter. Private Trust Co. NA now owns 2,721 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 421 shares in the last quarter. Argyle Capital Management LLC grew its stake in Fifth Third Bancorp by 4.9% in the 4th quarter. Argyle Capital Management LLC now owns 30,000 shares of the financial services provider’s stock worth $1,268,000 after acquiring an additional 1,400 shares in the last quarter. Verus Capital Partners LLC grew its stake in Fifth Third Bancorp by 12.2% in the 4th quarter. Verus Capital Partners LLC now owns 12,186 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,324 shares in the last quarter. QRG Capital Management Inc. grew its stake in Fifth Third Bancorp by 10.5% in the 4th quarter. QRG Capital Management Inc. now owns 79,384 shares of the financial services provider’s stock worth $3,356,000 after acquiring an additional 7,526 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $6,416,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FITB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.75.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 1.1 %

NASDAQ FITB opened at $43.47 on Monday. The company has a fifty day simple moving average of $43.43 and a two-hundred day simple moving average of $43.80. The stock has a market cap of $28.93 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a 12-month low of $33.48 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.